I haven't seen either in person yet, just been doing a couple of quick comparisons online.
Agreed, It does looks a bit similar as a High Aspect Ratio Foil, but then maybe it looks a bit different from sword, seems to have a deep tuttle box attachment and the fuselage / torpedo bit I think also looks a bit different. Have to wait and see them both side by side.

From what I've read this is a full-on race foil like the sword and spots, maybe we'll get to see how it goes round a course. Looks like a few starters for the Kitefoil Gold Cup in Mexico will be on them.

Found another couple of pictures of it from a different angle, apparently this was a very recent prototype board and foil:

I commented on their FB page about the Sword similarities and was told that "every part is different". Making a high AR race foil look different is going to get trickier as dominant designs emerge I guess. Marvin from KFA is going to the Kitefoil Gold Cup thingy in La Ventana so we'll soon get an idea of how they're all doing in a couple of weeks!